While for-profit education stocks had been a growth area, the space recently ran into trouble, specifically a growing number of federal regulations. Want growth? Try Deckers or Chipotle . In the technology space, he likes Apple , NetApp or Google after it's "fantastic earnings" reported Thursday.

"This is a remarkable moment where the bears who have seized control of the media have created an atmosphere where it seems like no one believes anything could go higher," Cramer said. "While those in control of stock buying see silver linings and glasses half full everywhere, which is why we didn't go down nearly as hard as I thought we would."

When this story was published, Cramer's charitable trust owned Apple and Vale.